At the beginning of June, I announced that I would be retiring from Grindrod at the end of July. I leave to pursue personal interests, but I will also contribute to the Shipping division as a consultant for the foreseeable future.
The board has asked the Chairman, Mike Hankinson, to perform an executive role supported by Andrew Waller and the executive team while the succession process is followed.
Having worked at Grindrod my whole career – 31 years, of which ten years were as CEO – it was not an easy decision, but I am confident the business is well placed to go from strength to strength.
Some highlights in the last six months include the record volumes at TCM on the back of improved commodity prices. The current works are well underway to deepen the berth, install the fender solutions and extend the ship loader boom.
Syrah awarded the graphite distribution and logistics services contract to Grindrod for the Balama project which is the result of and thanks to many months of negotiation by the Grindrod team. This contract is an excellent example of customer focus, cohesion and integration.
And very pleasing, after more than 5 years of negotiating, for Oiltanking Grindrod Calulo Holdings to be appointed to plan, fund, construct, maintain and operate a massive new liquid-bulk-handling facility at the Port of Ngqura. This Build, Operate and Transfer (BOOT) agreement was concluded in December 2016.
Congratulations to Grindrod Bank for their national scale ratings and stable outlook accorded as well as the formation of Bridge Fund Managers with the introduction on Infinitus as a new shareholder.
There are other promising signs too: I am delighted to see our people coming through as graduates now and that skills are being developed in many areas of our business.
I have been very proud to be part of Grindrod for the last 30 or more years. The late Murray Grindrod and my predecessors Mike Groves and Ivan Clark instilled a culture of integrity in the business that must be preserved.
I thank you all for your support and wish you all the very best.